Archrock, Inc. (NYSE:AROC) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC grew its stake in Archrock, Inc. (NYSE:AROC - Free Report) by 19.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,867 shares of the energy company's stock after purchasing an additional 17,134 shares during the period. Hsbc Holdings PLC owned approximately 0.06% of Archrock worth $2,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wolverine Asset Management LLC raised its holdings in shares of Archrock by 111.8% during the 4th quarter. Wolverine Asset Management LLC now owns 1,504 shares of the energy company's stock worth $37,000 after acquiring an additional 14,200 shares during the period. Montag A & Associates Inc. purchased a new stake in shares of Archrock in the 4th quarter valued at approximately $55,000. R Squared Ltd purchased a new stake in shares of Archrock in the 4th quarter valued at approximately $76,000. Hantz Financial Services Inc. purchased a new stake in shares of Archrock during the 4th quarter valued at approximately $107,000. Finally, Covestor Ltd raised its position in shares of Archrock by 580.6% during the 4th quarter. Covestor Ltd now owns 4,485 shares of the energy company's stock valued at $111,000 after buying an additional 3,826 shares during the period. Institutional investors and hedge funds own 95.45% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Citigroup lifted their target price on Archrock from $32.00 to $33.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.67.

Archrock Stock Down 0.3 %

Shares of AROC traded down $0.08 during midday trading on Tuesday, hitting $23.64. The company had a trading volume of 282,888 shares, compared to its average volume of 1,462,741. Archrock, Inc. has a 1 year low of $17.27 and a 1 year high of $30.44. The firm has a market capitalization of $4.14 billion, a P/E ratio of 26.06, a P/E/G ratio of 1.60 and a beta of 1.19. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.26. The company's 50-day simple moving average is $24.52 and its 200-day simple moving average is $25.16.

Archrock (NYSE:AROC - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The energy company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.39 by $0.03. The company had revenue of $347.16 million during the quarter, compared to analysts' expectations of $342.98 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. As a group, sell-side analysts expect that Archrock, Inc. will post 1.09 EPS for the current year.

Archrock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 13th. Shareholders of record on Tuesday, May 6th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Tuesday, May 6th. Archrock's dividend payout ratio (DPR) is 73.08%.

Archrock announced that its Board of Directors has authorized a stock repurchase program on Monday, May 5th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the energy company to reacquire up to 1.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

About Archrock

Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. The company operates in two segments, Contract Operations and Aftermarket Services. It engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining of its owned fleet of natural gas compression equipment to provide natural gas compression services.